IOTA (IOTA) is 9.4× the size of Bonfida (FIDA) by market capitalisation. Over the past 1 year, FIDA is ahead by 1.5 percentage points (FIDA -66.9% against IOTA -68.5%). Their daily returns move loosely together (correlation 0.39 across 399 shared trading days). FIDA has been the more volatile of the two, at 125% annualised against IOTA's 76%.
FIDAIOTA
0.39over 399 shared trading days
Measured on daily returns rather than on prices. Two assets that both simply trend upward score near 1.0 on raw prices whether or not they move together, so returns are what answer the question people mean by correlation.
| Metric | FIDA | IOTA |
|---|---|---|
| Max drawdown (400d) | -85.4% | -83.5% |
| Risk-adjusted return (90d) | -0.19 | 0.21 |
| Best 30 days (past year) | +147.3% | +51.5% |
| Worst 30 days (past year) | -53.4% | -45.9% |
Relative strength over 90 days: IOTA outperformed FIDA by 25.6% — measured on the FIDA/IOTA ratio, so it holds regardless of market direction.